Insight: Ethanol lobby sees red over a yellow gas hose in Kansas
NEW YORK (Reuters) – At a handful of gas stations in eastern Kansas, the intensifying fight between major oil refiners and the ethanol industry over the future of America’s fuel supply has found a new focus: the color of the gas hose.
Elan rejects fresh Royalty bid, assessing other interest
DUBLIN (Reuters) – Irish drug firm Elan Corp Plc as expected rejected an increased offer from Royalty Pharma and on Monday said it was assessing enquiries from other interested parties.
Battery maker Exide Technologies files for bankruptcy
(Reuters) – U.S. battery maker Exide Technologies filed for Chapter 11 bankruptcy protection early on Monday, court documents showed, with the aim of cutting debt and implementing a restructuring plan to better compete in the market.
Analysis: Euro bailout Troika nears end of road with patchy record
PARIS (Reuters) – If the Troika that handles bailouts of distressed euro zone countries were a soccer team, it would probably be looking for a new manager after achieving a track record of one win, one loss and one draw.
China’s economy stumbles in May, growth may fall in second quarter
BEIJING (Reuters) – Risks are rising that China’s economic growth will fall further in the second quarter and that full-year forecasts will be cut further, after weekend data showed weakness in May exports and domestic activity struggling to pick up.
Insight: Rapid growth of U.S. mortgage servicers draws scrutiny
(Reuters) – When Nationstar Mortgage Holdings Inc tried to buy the rights to collect payments on $122 billion of mortgage loans earlier this year, housing finance giants Fannie Mae and Freddie Mac were not happy.
Insight: Big debts loom over Thai tycoons’ bold bets
SINGAPORE/BANGKOK (Reuters) – Two Thai business tycoons, one a politically connected Chinese speaker, the other the son of a street vendor, have spent $27 billion on acquisitions in the past year, mainly abroad – more than all Thai firms spent overseas…
Japan current account surplus doubles as income gains, exports rise
TOKYO (Reuters) – Japan’s current account surplus doubled in April from a year earlier, and bank lending posted its biggest annual rise in over three years, in a fresh sign the government’s aggressive policies to stimulate growth are paying early divid…
Japan’s Marubeni says to cut Gavilon energy arm out of takeover
TOKYO (Reuters) – Japanese trading house Marubeni Corp said it will cut Gavilon’s energy business out of its planned takeover of the U.S. commodity merchant, reducing the size of the transaction to $2.6 billion plus debt.
UK lawmakers to launch inquiry into central bank watchdog’s independence
LONDON (Reuters) – British lawmakers said they would conduct an inquiry into the independence of the Bank of England’s new financial risk watchdog, following questions over its relationship with government and its appointment process.
